The champion has arrived, perils of ICO going mainstream

Hearthy Co.
Jul 28, 2017 · 2 min read

Today I wake up with a funny story, Floyd Mayweather, a boxing champion is making content for stox.com ICO.

Well, yes, he is rich, rich as a boxer, even if I dislike the idea of people earning money for beating other people I respect him, he has made his way.

Maybe he is an informed and qualified investor, IDK, but this ad in instagram is bad news, ICO investors should be informed people, they are taking huge risks on projects that have not proven success. ICOs are a great form of funding and investment, but must remain as a system for professional or semiprofessional investors, or at least people with some technical or economical background, if we convert it in a pure speculative business, where investors doesn’t care about the projects and where money comes from people just trying to get short term profit all the ecosystem will implode sooner or later. A few will win, many will lose, claims will arise and all the blockchain ecosystem will implode, the reputational risk of this is huge, remember the dotcom bubble, it took a lot of serious investors out of the tech space for years.

If the blockchain sector doesn’t make an effort enough to self-regulate it will implode, ICOs should be designed better, tokens must be more secure and reliable, with more protection to investors and better practises, startups must have better background, less rock-star advisors and more consolidated teams with proven success in making business and software.

If not all will collapse, the regulators have put an eye on all ICOs, they are starting to create the connection boards, some arrests are happening (alphabay, BTC-e…), and, if everybody on the space doesn’t generate trust, real profits and traction the authorities may conclude blockchain is not the biggest innovation of our time, just another intrincate and dangerous Ponzi Scheme.

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With Hearthy we want to create a decentralized, open and sustainable ecosystem to improve health care access to everyone.

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